By Heath Waddington, Senior Vice President of Sales & Marketing
What a difference seven years makes! Oh... and also one of the longest bull runs in the history of the market. In 2010 Allianz Life Insurance Company of North America commissioned a survey called Reclaiming the Future. The purpose of this survey was to assess attitudes on retirement from the baby boomer generation, and the results were not particularly encouraging. One of the findings that stuck with me was that, when asked “Do you believe there is a retirement crisis in this country”, 92% of respondents answered either somewhat or absolutely. If you look at what was happening at the time, you will remember that the market had started one of the longest bull runs in history, but the wounds of the Great Recession were still very fresh and the losses that many had experienced in the prior two years were still very much on people’s minds. At the beginning of October 2010 when the survey was conducted, the Dow Jones Industrial Average (DJIA) was under 11,000.